TC Energy Corp
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TC Energy Corp
TC Energy builds and runs the large energy infrastructure that moves natural gas, liquids, and power across North America. Its main assets are pipelines, storage facilities, and related energy systems that connect producers of fuel with utilities, power plants, industrial users, and export terminals. The company is less of an energy producer and more of a toll collector on the energy supply chain: it owns the routes and the storage that customers need to move fuel safely and reliably. The company makes money mainly by charging fees for transporting and storing energy, often under long-term contracts or regulated rate structures. That means its customers pay for access to the pipeline network rather than for the price of the fuel itself. This business model gives TC Energy a steady role in the middle of the energy market, where dependable infrastructure matters more than commodity trading. What makes TC Energy different is that it sits at a critical junction between energy supply and energy demand. Natural gas is one of its core businesses, but it also has liquids pipelines, storage, and some power-related assets, which gives it exposure to different parts of the energy system. For investors, the key idea is simple: TC Energy earns from moving and storing energy, not from producing it.
TC Energy builds and runs the large energy infrastructure that moves natural gas, liquids, and power across North America. Its main assets are pipelines, storage facilities, and related energy systems that connect producers of fuel with utilities, power plants, industrial users, and export terminals. The company is less of an energy producer and more of a toll collector on the energy supply chain: it owns the routes and the storage that customers need to move fuel safely and reliably.
The company makes money mainly by charging fees for transporting and storing energy, often under long-term contracts or regulated rate structures. That means its customers pay for access to the pipeline network rather than for the price of the fuel itself. This business model gives TC Energy a steady role in the middle of the energy market, where dependable infrastructure matters more than commodity trading.
What makes TC Energy different is that it sits at a critical junction between energy supply and energy demand. Natural gas is one of its core businesses, but it also has liquids pipelines, storage, and some power-related assets, which gives it exposure to different parts of the energy system. For investors, the key idea is simple: TC Energy earns from moving and storing energy, not from producing it.
Record start: TC Energy said first quarter 2026 was a strong start, with comparable EBITDA up 14% year over year and more than $3 billion generated for the first time in a single quarter from continuing operations.
Outlook reaffirmed: Management reaffirmed full-year 2026 comparable EBITDA guidance of $11.6 billion to $11.8 billion and 2028 outlook of $12.6 billion to $13.1 billion.
Growth pipeline: The company announced a $1.5 billion Appalachia supply project on Columbia Gas and said customer demand continues to support more projects, including a strongly oversubscribed Crossroads open season and a new NGTL open season in Canada.
Capital discipline: Management said it remains committed to a 4.75x leverage target and plans to keep project execution, balance sheet strength and risk-adjusted returns as the main guardrails, while allowing capital spending to rise over time if the opportunity set supports it.
Bruce Power: Bruce Power remained on track, with management highlighting improving MCR economics, 88% quarterly availability, and a long-term free cash flow step-up beginning around 2030.
Demand backdrop: Executives repeatedly pointed to accelerating power load growth, especially from data centers, industrial demand and LNG-related needs in the Midwest, Ohio and Appalachia as the key driver of future investment.
Management
Annesley C. Wallace is a prominent executive at TC Energy Corp, a major North American energy company that specializes in natural gas, oil, and power generation. She is recognized for her expertise in corporate strategies and has played a significant role in driving growth and innovation within the company. As an executive, Wallace has been responsible for overseeing various strategic projects and operations, ensuring that TC Energy remains at the forefront of the energy industry. Her leadership style is marked by a commitment to sustainability, safety, and operational excellence. With a strong background in finance and strategic planning, Annesley C. Wallace brings extensive experience to her role, helping to navigate complex regulatory environments and fostering stakeholder relationships. Her contributions have been crucial in aligning TC Energy's goals with industry trends and environmental considerations. Throughout her career, Wallace has been a champion for diversity and inclusion, advocating for greater representation and equality within the workforce. She has been instrumental in shaping corporate policies that reflect these values. Overall, Annesley C. Wallace's leadership at TC Energy Corp underscores her dedication to innovation, responsible energy stewardship, and corporate social responsibility.
As an executive, Wallace has been responsible for overseeing various strategic projects and operations, ensuring that TC Energy remains at the forefront of the energy industry. Her leadership style is marked by a commitment to sustainability, safety, and operational excellence.
With a strong background in finance and strategic planning, Annesley C. Wallace brings extensive experience to her role, helping to navigate complex regulatory environments and fostering stakeholder relationships. Her contributions have been crucial in aligning TC Energy's goals with industry trends and environmental considerations.
Throughout her career, Wallace has been a champion for diversity and inclusion, advocating for greater representation and equality within the workforce. She has been instrumental in shaping corporate policies that reflect these values.
Overall, Annesley C. Wallace's leadership at TC Energy Corp underscores her dedication to innovation, responsible energy stewardship, and corporate social responsibility.
Stanley Graham Chapman III is a prominent executive in the energy sector, particularly known for his role at TC Energy Corp. He currently serves as the Executive Vice-President and Group Executive of U.S. and Mexico Natural Gas Pipelines at TC Energy. In this capacity, Chapman is responsible for overseeing one of the largest natural gas pipeline networks in North America, which involves managing business operations, strategy, and pipeline development across the United States and Mexico. Chapman joined TC Energy in 2014 and has since held various leadership positions within the company. Before joining TC Energy, he amassed significant experience in the natural gas industry. He spent several years at BP Energy Company, where he held various senior leadership roles that contributed to the growth and strategic direction of BP's natural gas and power businesses. Chapman holds a degree in Industrial Engineering from Texas A&M University and an MBA from the University of St. Thomas in Houston, Texas. His extensive background and expertise in the energy sector, combined with his leadership skills, have made him an influential figure in shaping TC Energy's strategic initiatives and operations in the natural gas market.
Chapman joined TC Energy in 2014 and has since held various leadership positions within the company. Before joining TC Energy, he amassed significant experience in the natural gas industry. He spent several years at BP Energy Company, where he held various senior leadership roles that contributed to the growth and strategic direction of BP's natural gas and power businesses.
Chapman holds a degree in Industrial Engineering from Texas A&M University and an MBA from the University of St. Thomas in Houston, Texas. His extensive background and expertise in the energy sector, combined with his leadership skills, have made him an influential figure in shaping TC Energy's strategic initiatives and operations in the natural gas market.
Gavin Wylie serves as Executive Vice-President and Chief Financial Officer for TC Energy Corp., a leading energy infrastructure company in North America. In this role, Wylie oversees the company’s financial strategy, planning, and reporting. He brings extensive experience in finance and operations to TC Energy, having previously held senior leadership positions within the company. Mr. Wylie is responsible for managing the company's financial health and ensuring alignment with its long-term strategic goals. Additionally, he represents TC Energy in interactions with investors, analysts, and other key stakeholders. His leadership is instrumental in guiding the financial decisions that support TC Energy's growth and sustainability initiatives.
Dawn E. de Lima was Chief administrative officer of TC Energy Corporation. In her role, she was responsible for various corporate services, including human resources, information systems, real estate, corporate security, and communications. She played a significant role in shaping the strategic direction of these functions within the company. De Lima was known for her leadership in organizational transformation, focusing on enhancing operational efficiencies and supporting the overall mission of TC Energy. Her experience and expertise were instrumental in driving TC Energy's administrative services to support its business operations across North America.
Greg Grant is the Executive Vice-President and President of Liquids Pipelines at TC Energy Corporation, a role he took on in August 2021. He brings extensive experience and leadership in the energy sector to his position. Grant is responsible for overseeing the strategic and operational aspects of the Liquids Pipelines business, which includes the management of crude oil and other hydrocarbon transportation infrastructure. Before joining TC Energy, Greg Grant served in various capacities within the energy industry, gaining substantial expertise in pipeline operations, logistics, and executive management. His background typically includes roles in both North American and international markets, where he has worked on critical infrastructure projects, regulatory compliance, and enhancing operational efficiency. His career is also marked by a focus on safety, sustainability, and stakeholder engagement. In addition to his professional responsibilities, Greg Grant is known for advocating innovative solutions to meet the evolving needs of the energy sector, while also maintaining a commitment to environmental and social governance (ESG) principles.
Before joining TC Energy, Greg Grant served in various capacities within the energy industry, gaining substantial expertise in pipeline operations, logistics, and executive management. His background typically includes roles in both North American and international markets, where he has worked on critical infrastructure projects, regulatory compliance, and enhancing operational efficiency. His career is also marked by a focus on safety, sustainability, and stakeholder engagement.
In addition to his professional responsibilities, Greg Grant is known for advocating innovative solutions to meet the evolving needs of the energy sector, while also maintaining a commitment to environmental and social governance (ESG) principles.
Tina Veronica Faraca is known for her role as the Executive Vice President and President of Canada Natural Gas Pipelines at TC Energy Corporation. Her career spans over two decades, primarily in the energy sector, where she has accumulated extensive experience in various leadership roles. Before joining TC Energy, she held key positions at Enbridge and CNRL, among others, focusing on pipeline and energy infrastructure development. At TC Energy, Faraca is responsible for the overall performance and operations of the company’s Canadian natural gas pipeline business, guiding strategic initiatives, and ensuring alignment with regulatory requirements and stakeholder expectations. She is recognized for her strategic vision and commitment to safety, reliability, and sustainability in the energy transport industry. Faraca's leadership style emphasizes collaboration and innovation, which has contributed significantly to TC Energy's efforts in maintaining and expanding its vast network of natural gas pipelines. Her contributions continue to play a vital role in meeting the growing demand for energy while working towards a more sustainable future.
At TC Energy, Faraca is responsible for the overall performance and operations of the company’s Canadian natural gas pipeline business, guiding strategic initiatives, and ensuring alignment with regulatory requirements and stakeholder expectations. She is recognized for her strategic vision and commitment to safety, reliability, and sustainability in the energy transport industry.
Faraca's leadership style emphasizes collaboration and innovation, which has contributed significantly to TC Energy's efforts in maintaining and expanding its vast network of natural gas pipelines. Her contributions continue to play a vital role in meeting the growing demand for energy while working towards a more sustainable future.
Christine R. Johnston is a notable executive at TC Energy Corporation, where she has been the Executive Vice-President, Stakeholder Relations, and General Counsel since 2021. With a comprehensive legal background and substantial expertise in regulatory affairs, she plays a crucial role in shaping the company's strategic legal and stakeholder engagement efforts. Johnston's leadership involves overseeing legal matters, compliance, and governance practices, as well as managing relationships with various stakeholders including regulators, communities, and investors. She holds a law degree and has amassed significant experience in the energy sector, contributing to her strong reputation in navigating complex legal landscapes and regulatory environments. Her work is integral to TC Energy's operations, aligning legal strategies with corporate goals and ensuring the company's activities are conducted responsibly and sustainably.
